United Community Banks (NASDAQ:UCB) Hits New 12-Month High - Time to Buy?

Shares of United Community Banks, Inc. (NASDAQ:UCB - Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $33.62 and last traded at $33.49, with a volume of 11574 shares trading hands. The stock had previously closed at $33.13.

Analysts Set New Price Targets

Several research firms have recently commented on UCB. Piper Sandler decreased their price objective on United Community Banks from $29.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th. Truist Financial reduced their target price on United Community Banks from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, October 25th.

United Community Banks Stock Up 3.4 %

The stock's 50-day moving average is $29.68. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.09 billion, a PE ratio of 22.25 and a beta of 0.88.

United Community Banks (NASDAQ:UCB - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.01). United Community Banks had a net margin of 13.04% and a return on equity of 8.36%. The firm had revenue of $384.39 million during the quarter, compared to analysts' expectations of $237.90 million. During the same period in the previous year, the firm posted $0.45 EPS. On average, equities analysts anticipate that United Community Banks, Inc. will post 2.23 EPS for the current year.

United Community Banks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Monday, December 16th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Monday, December 16th. United Community Banks's payout ratio is 62.34%.

Insider Activity

In other news, CFO Jefferson L. Harralson sold 10,275 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $27.76, for a total value of $285,234.00. Following the completion of the sale, the chief financial officer now directly owns 43,991 shares in the company, valued at $1,221,190.16. This represents a 18.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company's stock.

United Community Banks Company Profile

United Community Banks, Inc operates as the financial holding company for United Community Bank that provides financial products and services to commercial, retail, government, education, energy, health care, and real estate sectors. It accepts various deposit products, including checking, savings, money market, and other deposit accounts.